Moody’s gives Languang Development notes B2

Moody’s Investors Service said it assigned a B2 senior unsecured rating to the proposed notes to be issued by Hejun Shunze Investment Co., Ltd. and unconditionally and irrevocably guaranteed by Sichuan Languang Development Co., Ltd. (B1 stable).

Languang Development plans to use the proceeds from the proposed notes to refinance its offshore existing debt.

The outlook is stable.

“The proposed bond issuance will improve Languang Development's liquidity and not have a material impact on its credit profile, because the proceeds will mainly be used to refinance the company's maturing debt,” Celine Yang, a Moody's assistant vice president and analyst, said in a news release.

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